Beneficient to acquire Mercantile Bank International Corp. to expand alternative asset custody services
Beneficient to acquire Mercantile Bank International Corp. to expand alternative asset custody services
12/05/24, 9:16 PM
Location
Industry
banking
lending
fintech
finance
financial services
Beneficient, a technology-enabled platform providing exit opportunities and primary capital solutions, has entered into an agreement to acquire Mercantile Bank International Corp. in exchange for a purchase price of $1.5 million. This acquisition is aimed at expanding Beneficient's alternative asset custody services, offering an expanded range of companion custody and other fee-based services that complement its existing businesses on a broader scale, with the potential to generate additional cash flow.
Company Info
Location
Dallas, Texas, United States
Company info
Beneficient Company is a provider of liquidity solutions and services for alternative assets. It offers custody and fee-based services for alternative assets, aiming to democratize access to the alternative asset market for mid-to-high net worth individuals, small-to-midsized institutions, and General Partners. The company's online tools, AltQuote™ and AltAccess®, provide customers with rapid exit options and proposals for their alternative assets.
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